Innoviz Technologies Ltd. (NASDAQ:INVZ) Short Interest Update

Innoviz Technologies Ltd. (NASDAQ:INVZ) saw a significant increase in short interest during the month of February. As of February 28th, there was short interest totalling 24,390,000 shares, an increase of 62.5% from the February 13th total of 15,010,000 shares. Approximately 12.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 12,070,000 shares, the short-interest ratio is currently 2.0 days.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Traynor Capital Management Inc. purchased a new position in Innoviz Technologies during the 4th quarter worth $25,000. FNY Investment Advisers LLC purchased a new position in Innoviz Technologies during the 4th quarter worth $25,000. Schonfeld Strategic Advisors LLC increased its holdings in Innoviz Technologies by 12.0% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 158,200 shares of the company’s stock worth $266,000 after purchasing an additional 16,900 shares during the period. Lido Advisors LLC purchased a new position in Innoviz Technologies during the 4th quarter worth $29,000. Finally, OneDigital Investment Advisors LLC purchased a new position in Innoviz Technologies during the 4th quarter worth $37,000. 63.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on INVZ shares. Rosenblatt Securities restated a “buy” rating and set a $4.00 price objective on shares of Innoviz Technologies in a research report on Thursday, February 27th. Westpark Capital restated a “buy” rating and set a $2.22 price objective on shares of Innoviz Technologies in a research report on Tuesday, February 25th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Innoviz Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $3.19.

Innoviz Technologies Trading Up 3.4 %

Shares of NASDAQ INVZ traded up $0.02 during midday trading on Friday, hitting $0.65. The company’s stock had a trading volume of 4,377,181 shares, compared to its average volume of 4,392,039. The business’s 50 day moving average is $1.25 and its two-hundred day moving average is $0.98. Innoviz Technologies has a 12-month low of $0.45 and a 12-month high of $3.14. The firm has a market cap of $110.11 million, a P/E ratio of -1.02 and a beta of 0.84.

Innoviz Technologies (NASDAQ:INVZ) last issued its quarterly earnings results on Wednesday, February 26th. The company reported ($0.11) earnings per share for the quarter, hitting the consensus estimate of ($0.11). Innoviz Technologies had a negative return on equity of 87.40% and a negative net margin of 321.53%. The firm had revenue of $6.03 million for the quarter, compared to the consensus estimate of $5.86 million. On average, analysts predict that Innoviz Technologies will post -0.6 earnings per share for the current fiscal year.

Innoviz Technologies Company Profile

Innoviz Technologies Ltd. manufactures and sells automotive grade LiDAR sensors and perception software to enable safe autonomous driving at a mass scale. The company offers InnovizOne, a solid-state LiDAR sensor designed for automakers and robotaxis, shuttles, trucks, and delivery companies requiring an automotive-grade and mass-producible solution to achieve autonomy.